Here we are tracking a very technical move to the top of the range after positive European election results, an important hurdle cleared for those tracking the macro floor building in EURUSD.
Timing wise we still have pending June ECB and Fed meetings to clear however it is just a matter of time, in my book, before Europe receives a positive outlook.The main risk to this flow is coming from Brexit collateral. If we get sharp spikes in Sterling crosses, we might see very near-term outflows in Europe.
Best of luck those tracking the coming floor in EURUSD.